RBI Governor launches new ISO 20022 compliant RTGS System
Dr. Raghuram Rajan, Governor, Reserve Bank of India, today launched the new Real Time Gross Settlement (RTGS) system of the Reserve Bank of India. Complimenting the entire team for successfully completing the project, the Governor said, "The new RTGS system is a great example of what we are capable of when we put our minds… Read More
Tags: India, ISO 20022, Payment system, Raghuram Rajan, Real Time Gross Settlement, Reserve Bank of India, Royal Thai General System of Transcription, RTGS
SEBI Circular w.r.t. Principles of Financial Market Infrastructures
CIRCULAR CIR/MRD/DRMNP/26/2013 September 04, 2013 To All Clearing Corporations and Depositories. Sir / Madam, Sub: Principles of Financial Market Infrastructures (PFMIs) Background 1. To promote and sustain an efficient and robust global financial infrastructure, the Committee on Payments and… Read More
Tags: CCP, Central Securities Depository, International Organization of Securities Commissions, IOSCO, Over-the-counter (finance), Payment system, Systemically Important Payment Systems, Trade Repository
Department of Food Launches Electronic Transfer of Funds
The Department of Food & Public Distribution has launched the system of electronic transfer of funds. Shri Sudhir Kumar, Secretary of the Department launched the system here today. On the occasion he said that the system would bring more efficiency in the financial working of the Department and would ensure quick and direct transfer of… Read More
Tags: CBS, Department of Food & Public Distribution, Financial services, Government of India, National Informatics Centre, Payment, Payment system, Reserve Bank of India
RBI Committee suggests GIRO based Indian Bill Payment System
The Reserve Bank of India (RBI) has today released the report of the committee set up to study the feasibility of implementation of GIRO based payment systems in India (Chairman, Shri G. Padmanabhan). The committee has highlighted the need for developing an electronic bill payment system based on a GIRO model for payment of dues… Read More
Tags: Committee, GIRO, India, Indian Banks Association, Mumbai, Payment system, Reserve Bank of India
Clearing operations on March 29, 30 and 31, 2013
RBI/2012-13/454 DPSS.CO.CHD.No./1674/ 03.01.03/2012-2013 March 21, 2013 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/Local Area Banks Madam / Dear sir, Clearing operations on March 29, 30 and 31, 2013 With a view to facilitate accounting… Read More
Tags: Bank, Clearing House, Commercial bank, Fiscal year, India, March 31 2013, Payment system, Reserve Bank of India
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